FitBeats™, the fitness MP3 leader, today announced it has formed a Committee to explore strategic alternatives to enhance value and increase scale. . These alternatives could include, among others, possible joint ventures, strategic partnerships or alliances, a sale of the Company or other possible transactions.
The Committee is comprised of Gregory Tanner, Angelo Tanner and Erin Koksal.
“During the past year, I have focused efforts to take command of FitBeats and creating a stable business position. Given the evolving and competitive landscape, I think now is the time to explore strategic alternatives to further the business.” Comments Founder Gregory Tanner
FitBeats struggled through the Recession but remained online with it’s presence and in 2011 was resurrected with a renewed vigor. The original FitBeats company structure was dissolved and purchased back by Greg and ACF Ventures LLC in 2012.
ACF Ventures LLC is serving as advisor to FitBeats while exploring alternatives.
There can be no assurance that this exploration process will result in any transaction. The Company does not currently intend to disclose further developments with respect to this process, unless and until FitBeats approves a specific transaction or otherwise concludes the review of strategic alternatives.
FitBeats™ continues its online offerings with training programs for a wide range of athletic endeavors. It has also been scientifically designed to meet the high demands of today’s on-the-go culture. Programs include cycling workouts, running and walking workouts, even an AbJam, to help athletes get through what to many is a chore: abdominal exercises.